MIRA
INFORM REPORT
|
Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SIMBA PLASTICS LTD |
|
|
|
|
Registered Office : |
P.O Box 2459 Dar-Es-Salaam |
|
|
|
|
Country : |
Tanzania |
|
|
|
|
Date of Incorporation : |
25/6/1963 |
|
|
|
|
Com. Reg. No.: |
3174 |
|
|
|
|
Legal Form : |
Limited
Liability Company, Limited by shares |
|
|
|
|
Line of Business : |
Manufacturers of
plastic products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY REPORTED
SIMBA PLASTICS LTD
Principal Address
P.O Box 2459 Dar-Es-Salaam Tanzania
Telephone: 255-22-2863512/06
Fax: 255-22-2864926
Email: simba@sumariagroup.com
Internet: None
Established
25/6/1963
Registration
No. 3174 Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
40
Office & Factories
Head offices Plot No. 30 A Nyerere Road, Tanzania
Branches Depots In Arusha And Mwanza
Company Profile
Paid in Capital Tshs. 1,500,000,000
Subscribed Capital Tshs. 1,500,000,000
Shareholders
Name Position Amount
Ratio
Mr. Gulabchand P.
Shah Chairman
Mr. Jayesh G. Shah Managing Director
Mr. Akshay S. Shah Director
Mr. Dipen M. Shah Director
Sumaria Holdings
Ltd Holding Company 1,596,335 53.21%
P K Investment Ltd Share Holder 1,403,665 46.79%
Total 3,000,000 100.00%
Credit Opinion
Our proposed credit amount of USD 250,000 is recommendable
Divisions of the Companies
Division (1) BLOW MOULDING DIVISION
Division (2) FLEXIBLE PACKAGING DIVISION
Division (3) INJECTION MOULDING DIVISION
Division (4) ROTO MOULDING DIVISION
Division (5) TRADING DIVISION
Affiliated Companies
Company (1) NYANZA BOTTLING COMPANY LTD
Company (2) S & C GINNING COMPANY LTD
Company (3) SABUNI DETERGENTS LTD
Company (4) SHELLYS PHARMACEUTICALS
Company (5) SOMAGRO LTD
Company (6) KANTI AND COMPANY (T) LIMITED
Management/ Directors
|
President/
CEO (1) |
|
|
Name |
Mr.
Gulabchand P. Shah |
|
Remarks |
Top Decision Maker |
|
President/
CEO (2) |
|
|
Name |
Mr. Jayesh G. Shah |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Manufacturers of
plastic products.
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Local agencies, industries,
stores etc
Recent Sales
TZS. 6,800,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 20.0%
Domestic Market Share 30.0%
Banking relationship
Main Banks National Bank of
Commerce
Auditors
Tanna Somaiya & Co
Credit Check of Subject,
President & CEO
(as of report date)
Payment Morale : In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING : Financial situation is
average.
COMMENTS
We Recommend Maximum Credit of USD 250,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)